UPDATE: Franklin Resources FQ3 Profit Surges 21%

Franklin Resources

reported a 21% rise in its fiscal third-quarter profit. Franklin Resources' quarterly profit surged to $552.3 million, or $0.86 per share, versus $455.3 million, or $0.71 per share, in the year-ago period. Its revenue rose to $2.08 billion from $1.78 billion. However, analysts were estimating earnings of $0.85 per share on revenue of $2.07 billion. Franklin Resources shares gained 0.78% to $49.04 in pre-market trading.